Heavy Polluting Industries Environmental Information Disclosure Of Listed Companies Of Empirical Factors

With the continuous deterioration of the global environment, environmental issuesare urgent. So the strategy of sustainable development and low-carbon economy havebecome the focus of the world today. Enterprise is the main economic development,consumption of resources while polluting the environment, therefore, corporate can notshirk its responsibility in environmental management, and must accept the supervisionof the society. There is no doubt that environmental information disclosure is the mostdirect way to understand the corporate environmental behavior.Based on this background, this paper thinks heavily polluting industries listedcompanies as the research object, its resource levels as the core content ofenvironmental information, through theoretical analysis and empirical tests to seek theway to improve corporate environmental information disclosure level. This paperintroduces the background and significance of the article, the importance and urgency ofenvironmental issues, as well as disclosure of environmental information on theimportance of solving environmental issues. And then this paper introduces the conceptsof the article to provide some foreshadowing as set forth below. By sorting the researchresults both abroad and at home, this article summarized the company property,governance structure, financial situation and the external pressure are the four aspectsand then then use the theory of sustainable development, social responsibilitytheoretical foundation theory, asymmetric information theory and stakeholder theory inturn to analyzed the mechanism of environmental information disclosure. What’s more,based on previous studies, this paper presents its assumptions and builds voluntaryenvironmental information disclosure index to measure the level of corporateenvironmental disclosure. The paper, analyzing overall the current situation ofenvironmental information disclosure of listed companies in heavily polluting industries,depends on the2010-2012data samples of heavy polluting industries to multivariateregression analysis. Based on theoretical analysis and empirical research before, there isa conclusive statement and suggestions from the government level, the enterprisesthemselves and the public perspective. Finally, the article points out the limitations ofthe study and future research prospects at end of this paper.Through research, we draw the following conclusions:(1) company size, natureof equity, the proportion of tradable shares, environmental stress, debt financing pressures are positive correlation with corporate environmental information disclosurelevel;(2) the Company’s financial condition is negatively related to corporateenvironmental information disclosure;(3) ownership concentration does notsignificant correlation with level of corporate environmental information disclosure.